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The Xenics story

Xenics was founded by Dr. Bob Grietens in 2000. The company originated as a commercial spin-off from IMEC (Inter-university Microelectronics Centre), one of Europe's leading independent research centers for the exploration and development of advanced microelectronics and nano-technologies based in Leuven, Belgium.

Xenics was incorporated in October 2000 and is since active on the world markets for advanced IR imaging products and solutions. In the meantime, the Xenics product and technology portfolio has substantially expanded and diversified through proprietary corporate research and design.

As Xenics continued to grow it opened several successful subsidiaries in Singapore (2008), Boston (2010) and Moscow (2011). sInfraRed Pte, Ltd is the sales, manufacturing and custom solutions office for the APAC region. Xenics USA, Inc. is our North-& Latin-American Sales & Service office. Xenics LLC is our Russian Sales representative and service center responsible for the CIS region. Thanks to this growth the employment base was also rapidly increasing. Besides the founders Xenics includes several distinguished researchers drawn from IMEC as well as highly qualified international specialists from industry and academia in various related high-tech fields.

In September 2015 the board of directors decided that new management skills were necessary to lead the company towards profitable growth and further professionalization. In April 2016 Paul Ryckaert was appointed as new CEO of Xenics bringing to the company a solid, international, business-to-business experience proven in technology companies like Barco, Tyco Electronics and Siemens.

The whole Xenics team is now ready to further build the company through development and sales of market leading products and offer professional support & service to its worldwide customer base.

Financials

Xenics was incorporated in October 2000 and is since active on the world markets for advanced IR imaging products and solutions. In the meantime, the Xenics product and technology portfolio has substantially expanded and diversified through proprietary corporate research and design.

At the time of incorporation, Xenics raised an initial capitalization of 3.75 million Euro, plus government funding for specific project work. In addition to these sources, corporate founders and management as well as IMEC contributed to Xenics' capitalization. In June 2003, Xenics raised an additional round of venture capital funding in the amount of 1.5 million Euro from existing shareholders and other investors, including Software Holding & Finance.

Xenics is focused on increasing the profitability year by year, this in combination with the generation of sufficient cash flow to finance its continued portfolio expansion and research resources.

At present, company shareholders include major Belgian venture and equity funds such as Fortis Private Equity, as well as new investors.